CalPERS Boosted By Stellar Showing In Real Estate Investments

Jul 28 2006 | 4:49pm ET

The California Public Employees' Retirement System, the largest public pension fund in the U.S., rode a surge in its real estate portfolio to return 12.3% in the fiscal year ended June 30. The fund's 38.4% return on office, retail, apartment and industrial real-estate investments, and its 36.5% return on California housing, land and urban real estate nearly doubled the performance of CalPERS' real-estate benchmark, which returned 20.2%.

Among other alternative investments, CalPERS' venture capital and private equity portfolio rose 19.2%, edging its benchmark, which was up 18.6%. The fund's hedge fund portfolio also rose by double digits, up 11.2%. While the 12.3% return was well ahead of CalPERS' 8% target return, it lagged the Russell 2000 Index, which rose 12.6% during the period.


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Future of Private Equity: New Opportunities, New Challenges

Feb 3 2017 | 6:41pm ET

The private equity industry’s astonishing rebound since the financial crisis has...

 

From the current issue of